Car insurance app helps you become a better driver while saving a third on your premium
- Radical car insurance app, Cuvva, has today launched a new type of car insurance that harnesses advanced smartphone technology, to help drivers save up to a third on their Cuvva premiums
- Using sensors and machine learning, Cuvva’s innovative app creates a personalised driving score and shares unique insights to help drivers learn more about their driving habits
- The new product promises to make insurance fair and flexible, rewarding and encouraging safe driving and supporting drivers previously financially penalised for their demographic
- For one 23 year old customer, Cuvva’s annual premium equivalent works out to a whopping 45% less than the industry’s average annual car insurance premium.
Good drivers in the UK can now get cutting-edge driving behaviour technology on their phones and save up to a third on their monthly subscription car insurance with Smart Pricing from a new car insurance app from flexible insurance provider, Cuvva
Advancing on from tags and black boxes, Cuvva uses a phone’s sensors and machine learning to understand unique driving behaviour from braking and cornering to accelerating and phone use while driving.
Freddy Macnamara, CEO at Cuvva said: “Millions of drivers are overcharged by insurers with premiums largely based on factors like job titles and postcodes that have nothing to do with the way you drive. Cuvva wants to give people the chance to prove they’re good drivers and save based on their actual driving, not solely on factors out of their control.”
With an immediate 10% off subscription cover when switching Smart Pricing on in the app, a monthly comprehensive car insurance policy with Cuvva costs one 23-year old customer just over £29.00 a month. Cuvva’s annual premium equivalent works out to a whopping 45% less than the industry’s average annual car insurance premium.
A unique driving score is calculated out of 100 and a Smart Pricing premium is calculated after 125 miles behind the wheel.
“Basing a premium on a few trips is unfair because bad days behind the wheel are inevitable. The more you drive with Smart Pricing, the more we learn what kind of driver you are and can price you fairly,” says Macnamara.
While a driving score helps Cuvva understand driving behaviour, it also helps people understand how they’re doing on the road with a score that updates regularly.
“Companies often collect data for their own use but if people can benefit hugely from seeing and understanding their own journey insights, sharing it with them is the obvious way forward.
“Over time Cuvva plans to offer people a host of insights in the app like coaching and even help drivers understand their environmental impact from the way they drive, offering tips to reduce their own emissions and save on fuel,” says Macnamara.
There are no devices installed in the car or opt-in fees. According to Cuvva, drivers can also cancel anytime free of charge for ultimate flexibility.
Car insurance products that factor in your driving can differ significantly from one insurer to the next. Cuvva shares three top tips to help you improve your driving score, avoid sneaky fees and save on your car insurance:
How to improve your driving score for bigger savings
There are no cheat sheets when it comes to getting the perfect driving score. Give yourself plenty of time to get to your destination so you’re not feeling rushed when you get behind the wheel, stick to the speed limit and keep your distance. You never know when the car in front of you might hit the brakes suddenly. Smooth acceleration and gentle braking will also make your journey safer and improve your driving score. Generally, you want to avoid sharp and sudden movements.
Logical driving and following the rules of the road is all you need to do to benefit from the savings from this type of car insurance.
Watch out for sneaky fees
Removing a black box from your car, especially before the policy is up, can be costly, warns Cuvva, who encourages drivers to be fully aware of insurers fees before taking out a policy. Some insurers charge as much as £155 to remove the device from your car.
Insurers might even charge you a fee if you miss the installation fitting appointment. And if you renew you might even be charged a data management renewal fee.
Be aware of black box driving restrictions
Some traditional insurers have several restrictions alongside its black box cover from driving at night to mileage limits. And if you drive more than the agreed mileage you could be charged an additional fee. If you have mileage restrictions and are nearing your limits, ring up your insurer and see if you can increase the limit.
Article by Cuvva